Brief: Sogeclair H1 Net Loss Widens To 16.3 Million Euros

Sogeclair SA

09/09/2020 16:49

Sept 9 (Reuters) - SOGECLAIR SA  SCLR.PA :
    * H1 EBITDA EUR -1.1 MILLION VERSUS EUR 5.4 MILLION YEAR AGO
    * RESULTS FOR 1ST HALF 2020
    * H1 NET LOSS EUR 16.3 MILLION VERSUS LOSS OF EUR 0.5
MILLION YEAR
AGO
    * TOOK NECESSARY ADAPTATION MEASURES FROM 2ND QUARTER 2020
IN
ORDER TO RECOVER AS SOON AS POSSIBLE ITS LEVELS OF LONG-TERM
GROWTH AND PROFITABILITY
    * COMMERCIAL AEROSPACE MARKET IS UNDERGOING A SHARP AND
LASTING
DECLINE FOR COMING SEMESTERS, BUT IT REMAINS FAVORABLE IN MEDIUM
TERM (3 TO 5 YEARS)
    * BUSINESS AVIATION, SPACE AND MORE GENERALLY TRANSPORT
INVESTMENT
MARKETS, WHICH EXPERIENCED A SIGNIFICANT DECLINE IN Q2, ARE
EXPECTING A FASTER RECOVERY
    * IS FACING A SIGNIFICANT AND LASTING DECLINE OF ITS
ACTIVITY IN
COMMERCIAL AEROSPACE
    * MEASURES HAVE ALREADY BEEN TAKEN AND PROVISIONED OVER 1ST
HALF
OF YEAR IN TERMS OF ADAPTATION, THEY CONCERN SIGNIFICANT
WORKFORCE REDUCTIONS (AROUND 25%)

Source text for Eikon:  ID:nNDL2kPSSS 
Further company coverage:  SCLR.PA 

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